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High marijuana taxes could give California’s black market new life

https://mjbizdaily.com/high-marijuana-taxes-give-californias-black-market-new-life/

A report from a credit rating agency suggests that California’s high tax rates on marijuana – which could reach 45% depending on local taxes – may result in an ongoing or even thriving black market for cannabis.

According to Fitch Ratings – the agency that compiled the report – “the existing black market for cannabis may prove a formidable competitor to legal markets if new taxes lead to higher prices than available from illicit sources,” The Washington Post reported.

Although consumers will pay only a 15% state excise tax and a cultivation tax, local governments can impose

High marijuana taxes could give California’s black market new life is a post from: Marijuana Business Daily: Financial, Legal & Cannabusiness news for cannabis entrepreneurs

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Brian Wroblewski

Brian Wroblewski has a passion for writing, travel, food and family. Since working in and around the cannabis industry since 2008, Brian brings a unique perspective to the cannabis journalism space. With a focus on emerging brands, moving the cannabis industry forward and an undeniable passion for truth in business and journalism, find some of Brian's posts across the web on digital marketing, cannabis and a variety of different topics.

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